Bubbles can persist because investors are better off riding bubbles. We define bubbles in a natural way as significant, prolonged deviations from fundamental values measured by the well-known asset pricing models. Our real-time bubble detection system shows that –using US industry returns–...

We study how investor sentiment responds to the prevalence of COVID-19 induced equity market volatility. Using the quantile-on-quantile approach, we report a strong relationship between sentiment and volatility. We note that low to medium volatility yield minimum fear, with high volatility...

Milton Friedman said that inflation is always and everywhere a monetary phenomenon. Most people, when they think of inflation, think in terms of the goods and services that they buy. In fact, Friedman’s dictum can be extended to include inflated home prices, stock prices, commodity prices, or...